By continuing to use this site you consent to the use of cookies on your device as described in our
Cookie Policy unless you have disabled them. You can change your Cookie Settings at any time but parts of our site will not function correctly without them.

Officials from both countries sought to narrow differences on how to end a nuclear stand-off on the Korean peninsula as the stage was being set for the first ever meeting between the two leaders in Singapore on Tuesday.

"No one expects anything concrete to come of the meeting ... but if the tone is positive afterwards, it won't be a headwind for stocks," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York.

Investors brushed off concerns surrounding the G7 meeting, in which Trump upset the allies' efforts to show a united front by backing out of a previous agreement and calling Canadian Prime Minister Justin Trudeau "very dishonest and weak" in his tweet.

Investors are also bracing for changes in monetary policies, with three of the world's top central banks - the U.S. Federal Reserve, the European Central Bank and the Bank of Japan - set to meet this week.

The Fed is almost certain to raise interest rates again on Wednesday, inching closer to a neutral policy stance, while the ECB is likely to signal on Thursday that its 2.55 trillion euro bond purchase scheme will end this year, a key move in dismantling crisis-era stimulus.

"Investors will be keenly focused on any indications from the Fed on their adherence to their rate hiking path and a possible change in forward guidance language," Cecchini wrote.

Advancing issues outnumbered decliners by a 1.31-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.19-to-1 ratio on the Nasdaq.

The S&P index recorded 41 new 52-week highs and seven new lows, while the Nasdaq recorded 143 new highs and 19 new lows.